EPISODE 43: Owning Property by Spending Other People’s Money??? Interview with The Karwells
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Interview with The Karwells
How did your partnership start?
How was your journey getting private money and what does that look like today?
How did you get your property under contract without having the funds lined up?
Do you ask for a longer escrow?
If you don’t get the money, do you pull out?
What are some of the conditions that you are willing to negotiate on? Equity, percentage of cash flow, amount of ownership…etc?
What are pieces in each deal that are non-negotiable?
Do you require someone to be an accredited investor, or do you have a minimum investment amount?
Do you guys have investors actively investing and doing the flip and also investing money passively to diversify?
Is there a sweet number of people you want to bring on to a deal?
How do you handle having the responsibility of other people’s money?
Do investors just have to be more open for risk?
How do you lay out these terms?
What do you say in your contracts?
What percents are laid out?
Is anything backed by promissory notes?
Do you have to make a new LLC for each separate deal?
How do you decide how much voting power each person gets?
Am I the Airbnb-hole?!
Reacting to a host being too nit picky about a guest review!
